i


October 2023

TABLE OF CONTENTS


OVERVIEW

Annual headline inflation decreased from
18.4% in September 2023 to 17.8% in October
2023. Month-on-month inflation, however,
increased from 0.95% in September 2023 to
2.46% in October 2023.
On a monthly basis, broad money increased by
6.85% in October 2023, compared to 17.17%
recorded in September 2023. This was, in part,
reflective of the impact of credit creation by
banks.
International
prices
of
gold,
platinum,
palladium, copper, nickel and Brent crude oil
declined during the month under analysis.
Prices were largely weighed down by a
relatively stronger U.S dollar.
The country’s total merchandise trade for the
month of October 2023 stood at US$1,733.4
million, reflecting an increase of 19.5%
compared to US$1,450.8 million recorded in
the previous month. This was underpinned by
increases in exports and imports by 22.7% and
16.7%, respectively, during the reporting
period.
The Zimbabwe Stock Exchange (ZSE) was
bullish during October 2023. As such, All
Share, Top 10, Top 15, Small Cap and Medium
Cap indices registered increases of 24.04%,
24.23%,
22.92%,
71.35%
and
25.09%,
respectively.
On the contrary, the Victoria Falls Stock
Exchange
(VFEX)
exhibited
bearish
sentiments during the month under analysis.
Consequently, the VFEX All Share index lost
8.98% to close at 67.81 points during the month
under review, from 74.50 points recorded in
September 2023.

The value of transactions processed through the
National Payment Systems (NPS) increased by
8.0% to close the month under review at
ZW$32.53 trillion. In volume terms, NPS
transactions also increased by 8.95% to close at
62.69 million in the same period.

INTERNATIONAL
COMMODITY
PRICE
DEVELOPMENTS

International
prices
for
gold,
platinum,
palladium, copper, nickel and Brent crude oil
declined during the month under analysis.
Commodity prices were largely weighed down
by a relatively stronger U.S dollar.

Precious Metals

Gold
Gold prices decreased marginally by 0.25%
from US$1,917.70 per ounce in September
2023 to US$1,912.98 per ounce in October
2023. The decline in the price of gold was
reflective of a stronger U.S dollar on the global
market and prospects of higher U.S. interest
rates.

Platinum
Platinum prices declined amid concerns over
low global automotive demand. As such,
platinum prices retreated by 3.29% from an
average of US$922.29 per ounce in the
previous month to US$891.91 per ounce during
the month under analysis.

Palladium
Palladium prices fell following a low uptake of
catalytic converters amid rising market share
for electric vehicles. As such, palladium prices
declined by 7.62% to US$1,144.02 per ounce
during the reporting month, from US$1,238.45
per ounce reported in September 2023. Figure
1 shows the precious metal price developments
for the period from October 2020 to October
2023.


Figure 1: Precious Metal Prices (US$/oz.)
Source: Bloomberg, 2023


Base Metals


Copper
Copper prices retreated, partly due to lower
economic activity in China and prospects of
further U.S. interest rate hikes. China is the
world’s top consumer of industrial metals. As a
result, the average price of copper fell by
3.59%, from US$8,316.33 per tonne in the
previous month to US$8,017.45 per tonne in
October 2023.
Nickel
Nickel prices dropped by 6.69%, from
US$19,817.76 per tonne recorded in September
2023 to US$18,492.27 per tonne during the
month under analysis. Nickel prices decreased
on the back of China’s subdued construction
sector. Figure 2 shows the base metals price
developments for the period from October 2020
to October 2023.

Figure 2: Base Metal Prices (US$/ton)
Source: Bloomberg, 2023

Brent Crude Oil

Brent crude oil prices declined by 3.99% from
a monthly average of US$92.36 per barrel in
September 2023 to US$88.67 per barrel in
October 2023. Crude oil prices eased on the
back of the dissipating market concerns about
potential supply disruptions emanating from
geopolitical tensions in the Middle East.
Figure 3 shows brent crude oil price
developments for the period from October 2020
to October 2023.


Oct-20
Feb-21
Jun-21
Oct-21
Feb-22
Jun-22
Oct-22
Feb-23
Jun-23
Oct-23
Gold
Palladium
Platinum (RHS)

Oct-20
Jan-21
Apr-21
Jul-21
Oct-21
Jan-22
Apr-22
Jul-22
Oct-22
Jan-23
Apr-23
Jul-23
Oct-23
Copper
Nickel (RHS)

Figure 3: Crude Oil Prices (US$/barrel)

Source: Bloomberg, 2023

Lithium

During the month under review, lithium prices
fell by 15.85%, from US$28,366.67 per tonne
in the previous month to US$23,870.45 per
tonne during the month of October 2023.
Lithium price decline is attributable to weaker
demand for fully electric cars in China and
other markets. Figure 4 shows the price
developments of metals from April 2023 to
October 2023.


Figure 4: Lithium Prices (US$/tonne)
February – August 2023

London Metal Exchange, 2023

MERCHANDISE TRADE DEVELOPMENTS

The country’s total merchandise trade for the
month of October 2023 stood at US$1,733.4
million, reflecting an increase of 19.5%
compared to US$1,450.8 million recorded in
the previous month. This was underpinned by
increases in exports and imports by 22.7% and
16.7%, respectively, during the reporting
period.

Merchandise Exports

During the month of October 2023, the country
exported merchandise worth US$831.9 million,
up by 22.7% from US$678.1 million recorded
in September 2023. The rise in exports was
largely due to a jump in tobacco exports during
the month under analysis. Similarly, the
monthly exports for October 2023 were 65.6%
higher than US$502.3 million recorded in the
corresponding month in 2022.

Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
US$/barrel


Apr-23 May-23 Jun-23
Jul-23 Aug-23 Sep-23 Oct-23

Figure 5 shows the developments on the
country's merchandise exports for the period
from January 2022 to October 2023.
[
Figure 5: Merchandise Trade (US$ m)

Source: ZIMSTAT, 2023

Primary commodities, specifically tobacco,
gold, PGMs and ferro-chromium, remained the
leading
exports in
the country. These
commodities accounted for 28.2%, 21.9%,
11.9% and 4.9% of the export basket,
respectively. Export earnings from PGMs
were, however, 11.9% lower than in the
previous month. The decrease in PGMs
earnings was largely driven by the ongoing
retreat of key commodity prices owing to weak
global growth prospects.

Table 1 shows developments in the country’s
exports for September and October 2023.


Table 1: Exports Classified by Category


Sep-23
(US$m)
Oct-23
(US$m)
Sep - Oct
Changes
(%)
Share of
Exports
(%)
Oct-23
Total


22.7
831.9

Of Which:


Tobacco
(Inc.
cigarettes)

Gold

PGMs*

Ferrochromium

Chromium
ores &
concentrat
es

Cotton

Cane sugar

Coal

Electricity

Industrial
diamonds

Source: ZIMSTAT & RBZ Calculations, 2023
*PGMs Include Nickel mattes, nickel ores &
concentrates and platinum

During the month under review, the country’s
exports were to China (38.4%), United Arab
Emirates (22.8%), South Africa (16.3%).
Figure 6 shows the country’s major export
markets during the reporting month.


Jan Feb Mar Apr May Jun Jul Aug Sep Oct

Figure 6: Top Ten Merchandise Export
Destinations (% Share)

Source: ZIMSTAT & RBZ Calculations, 2023

Merchandise Imports

The country’s import bill for the month of
October 2023 amounted to US$901.5 million,
reflecting a 16.7% increase from US$772.7
million recorded in the previous month.
Similarly, the reporting month’s imports were
17% higher than US$770.4 recorded in the
comparable month in 2022, as shown in Figure
7.

Figure 7: Merchandise Imports classified by
HS Codes (US$ m)

Source: ZIMSTAT & RBZ Computations, 2023

As of October 2023, the country’s import
basket comprises diesel, petrol (leaded),
fertilisers and crude soya bean oil accounting
for 9.1%, 3.8%, 3.7% and 2.1% of total
imports, respectively. Table 2 shows imports of
major commodities for the months of
September and October 2023.

Table 2: Imports Classified by Category

Sep-23
(US$m)
Oct-23
(US$m)
Sep-Oct
Changes
(%)
Share of
Total
Imports
(%)
Oct-23
Total

Of Which:


Diesel

Leaded
petrol

Fertilizers

Crude soya
bean oil

Maize

Electricity

Selfpropelled
bulldozers

Kerosene jet
fuel

Cane sugar

Wheat

Source: ZIMSTAT & RBZ Calculations, 2023
The country sourced most of its imports from
South Africa which accounted for about 34.7%
of total imports, followed by Russian
Federation, China and Bahrain at 15.2%, 11.9%
and 6.9%, respectively. Figure 8 shows the
country’s top import sources in October 2023.


China
United Arab Emirates
South Africa
Mozambique
Belgium
Hong Kong
Viet Nam
Zambia
Italy
India

Jan Feb Mar Apr May Jun Jul Aug Sep Oct

Figure 8: Top Ten Merchandise Import
Sources (% Share)

Source: ZIMSTAT & RBZ Calculations, 2023

Merchandise Trade Balance
In October 2023, the country’s trade deficit
stood at US$69.6 million compared to US$94.6
million recorded in the previous month.

Figure 9 shows the country’s trade balance for
the period from June to October 2023.

1All monetary numbers valued in ZW$ since the
adoption of an interbank market determined exchange
rate in February 2019.
Figure 9: Merchandise Trade Balance
(US$ m)

Source: ZIMSTAT & RBZ Computations, 2023


MONETARY DEVELOPMENTS1

Broad
money
(M3)
stock
stood
at
ZW$16,790.29 billion in October 2023,
compared to ZW$15,714.07 billion recorded in
September 2023.
The money stock was largely composed of
foreign currency deposits, 79.18% local
currency deposits, 20.75% and currency in
circulation, 0.07%.


South Africa
Russian Federation
China
Bahrain
Bahamas
Mauritius
India
Mozambique
United Arab Emirates
Zambia

Jun-23
Aug-23
Oct-23
Exports
Imports
Trade Balance

Figure 10: Composition of Money Supply
Source: Reserve Bank of Zimbabwe, 2023

On a month-on-month basis, broad money
increased by 6.85% in October 2023, compared
to 17.17% recorded in September 2023. The
increase in money supply reflected an
expansion of 30.01% in the local currency
component due to credit creation by banks.
Foreign currency component of money supply
recorded a monthly increase of 2.07%.
During the month under review, credit to the
private sector, increased by 6.67% to close at
ZWL9.89 trillion, largely reflecting valuation
changes owing to exchange rate movements.
Net claims on Government by the banking
sector increased by 1.86% to close at
ZWL$4.02 trillion in October 2023 from
ZWL$3.95 trillion in the previous month.
On a year-on-year basis, broad money
registered an increase of 792.71% compared to
719.66%, in September 2023. The annual
growth in money supply partly reflected
exchange
rate
depreciation,
from
ZW$632.77/USD
in
October

to
ZW$5,698.96/USD by end-October 2023.
Consequently, the change in foreign currency
deposits due to exchange rate movement
accounted for 600.69 percentage points of the
792.7% annual growth in broad money. The
local currency component contributed the
remaining 192.01 percentage points of the
annual money supply growth.
On the asset side, annual increase in broad
money largely reflected nominal change in
credit to the private sector of ZW$9,018.98
billion (1,039.38%).

Outstanding credit to the private sector was
mainly channelled to households, 24.15%;
agriculture, 16.59%; manufacturing, 15.69%;
and distribution, 10.62%. Figure 11 shows
private sector credit by economic sectors.

Figure 11: Distribution of Private Sector
Credit
Source: Reserve Bank of Zimbabwe, 2023

Credit to the private sector was largely utilized
for recurrent expenditures, 31.63%; inventory
build-up,
23.64%;
and
fixed
capital
investments, 16.48%.


NCDs,
0.02%
Local Currency Time ,
1.91%
FX Time
Deposits, 5.16%
Local Currency
Transferable , 18.82%
FX
Transferable
Deposits,
74.03%
Currency in
Circulation,
0.07%
Households
24.15%
Agriculture
16.59%
Mining
12.41%
Manufacturing
15.69%
Distribution
10.62%
Construction
1.86%
Transport
&
Communica
tions
2.71%
Services
9.76%
Financial Org. &
Investments
6.19%
Other
0.01%

STOCK MARKET DEVELOPMENTS

Zimbabwe Stock Exchange (ZSE)

During October 2023, the Zimbabwe Stock
Exchange (ZSE) traded in a positive trajectory.
As such, All Share, Top 10, Top 15, Small Cap
and Medium Cap indices increased by 24.04%,
24.23%, 22.92%, 71.35% and 25.09% to close
at 157 083.06 points, 70 266.63 points, 94
260.18 points, 5 064 394.15 points and 622
991.45 points, respectively.

The resource index, however, remained
unchanged at 125 531.67 points, during the
month under review.

On an annual basis, the All Share, Top 10, Top
15, Small and Medium Cap indices rose by
942.21%, 691.46%, 849.09%, 852.79% and
1,773.31%. This compared to 15 072.14 points,
8 878.08 points, 9 931.66 points, 531 535.21
points and 33 256.19 points registered in the
corresponding period in 2022, respectively.

The mining index increased by 430.58% from
23 659.53 points registered in October 2022.

Figure 12: ZSE All Share, Top 10 and
Mining Indices
Source: Zimbabwe Stock Exchange, 2023

On a month-on-month basis, the cumulative
volume and value of shares traded at the ZSE
decreased by 81.36% and 65.20% to close at
64.00 million shares and ZW$31.77 billion,
respectively.

The proportion of foreign purchases to the
value of shares traded, however, increased to
2.46% in October 2023 from 0.07% registered
in September 2023.

Net foreign position improved to negative
ZW$1.40 billion, from negative ZW$5.67
billion recorded in September 2023.


31-Oct-22
30-Nov-22
31-Dec-22
31-Jan-23
28-Feb-23
31-Mar-23
30-Apr-23
31-May-23
30-Jun-23
31-Jul-23
31-Aug-23
30-Sep-23
31-Oct-23
All Share Index
Top 10 Index
Mining Index

Figure 13: ZSE Monthly Volume and Value
Traded

Source: Zimbabwe Stock Exchange, 2023
In line with the developments on the ZSE,
market capitalization added ZW$2,703.17
billion, or 27.38% worth of capitalization to
close at ZW$12,576.67 billion.


On a yearly basis, ZSE capitalization increased
by 588.72% from ZW$1,826.10 billion
recorded in October 2022.

Victoria Falls Stock Exchange (VFEX)

The Victoria Falls Stock Exchange (VFEX)
exhibited bearish sentiments in October 2023.
In this regard, the VFEX All Share index lost
8.98% to close the month at 67.81 points, from
74.50 points recorded in September 2023.

On an annual basis, the VFEX All Share index
lost 40.26%, from 113.51 points recorded in
October 2022.
Figure 14: Victoria Falls Stock Exchange
(VFEX) All Share Index (ASI)

Source: Victoria Falls Stock Exchange, 2023

VFEX Market Capitalization

In tandem, the USD denominated bourse fell by
8.98% to close at US$1.16 billion, compared to
US$1.27 billion recorded in the previous
month.

Figure 15: Victoria Falls Stock Exchange
(VFEX) Market Capitalization (US$
Billion)

Source: Victoria Falls Stock Exchange (VFEX), 2023


Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
VALUE TRADED ($ MILLIONS)
VOLUME TRADED (MILIONS)
Volume
Value

31-Oct-22
30-Nov-22
31-Dec-22
31-Jan-23
28-Feb-23
31-Mar-23
30-Apr-23
31-May-23
30-Jun-23
31-Jul-23
31-Aug-23
30-Sep-23
31-Oct-23

Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
US$ Billion

NATIONAL PAYMENTS SYSTEM

The value of transactions processed through the
National Payment Systems (NPS) stood at
ZW$32.53 trillion in October 2023, up from
ZW$30.10 trillion in the previous month. NPS
transactions volumes also increased by 8.95%
to close at 62.69 million during the month
under analysis.

Zimbabwe Electronic Transfer Settlement
System (ZETSS)

The value of transactions processed through the
Real Time Gross Settlement (RTGS) system
increased by 6.0% to ZW$19.81 trillion, from
ZW$18.69 trillion in September 2023. The
volume of RTGS transactions, however,
decreased by 1.6%, from 0.96 million in
September 2023 to 0.95 million in October
2023.
Figure 16: ZETSS Volumes and Values

Source: Reserve Bank of Zimbabwe, 2023

Mobile and Internet Based Transactions

Mobile
and
internet-based
transactions
amounted to ZW$10.63 trillion, during the
month under analysis, representing an increase
of 12.85% from ZW$9.42 trillion recorded in
September 2023.
Cash Transactions
Cash based transactions increased from
ZW$1.70 trillion in September 2023 to
ZW$1.93 trillion in October 2023.
Card Transactions
Card based transactions at ZW$2.09 trillion in
October 2023, were 4.5% higher compared to
ZW$2.00 trillion recorded in the previous
month.

INFLATION OUTTURN

Annual Inflation

Annual headline inflation slowed down from
18.4% in September 2023 to 17.8% in October
2023. This followed a decline in non-food
inflation, from 16.31% in September 2023 to
15.40% in October 2023.

Monthly Inflation

Monthly inflation, however, rose to 2.46% in
October 2023, from 0.95% in September 2023,
driven by increases in both food and non-food
inflation.

Monthly food inflation increased from 1.05%
in September 2023 to 2.42% in October 2023.


Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Value in ZW$ Billions
Volume in Thousands
Volume
Value

Month-on-month non-food inflation rate
increased from 0.91% in the previous month to
2.48% during the month under analysis.

Figure 17: Month-on-Month Inflation (%)

Source: ZIMSTAT, 2023


DECEMBER 2023
RESERVE BANK OF ZIMBABWE


Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Food and non alcoholic beverages
Non food
All Items

Statistical Tables

Monetary Statistics
1. Depository Corporations Survey

2. Central Bank Survey

3. Other Depository Corporations Survey

Other Depository Corporations

4.1 Assets

4.2 Liabilities

Commercial Banks
5.1 Assets

5.2 Liabilities

Building Societies
6.1 Assets

6.2 Liabilities

Sectoral Analysis of Bank Loans and Advances and Deposits

7.1 Sectoral Analysis of Commercial Banks Loans and Advances

7.2 Sectoral Analysis of Commercial Banks Deposits

Interest Rates

8.1 Lending Rates

8.2 Banks Deposit Rates

Inflation

9.1 Monthly Inflation

9.2 Yearly Inflation

External Statistics
10. Exchange Rates

Zimbabwe Stock Exchange
11. Zimbabwe Stock Market Statistics

National Payments System Statistics


12.1 Values of Transactions

12.2 Volumes of Transactions

Trade Statistics


13. Merchandise Trade Statistics

TABLE 1: DEPOSITORY CORPORATIONS SURVEY ($'000)
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Net Foreign Assets
-2,033,984,124.20 -2,085,714,926.41 -2,301,765,618.46 -2,768,770,567.35 -2,973,301,439.14 -3,029,571,037.94 -3,592,508,488.23
-8,614,351,669.20 -17,037,826,284.18 -14,270,652,392.93 -14,337,307,783.85 -16,543,175,351.51 -17,602,887,571.92
Central Bank(net)
-2,594,453,844.31 -2,593,755,912.16 -2,780,839,763.05 -3,343,568,149.26 -3,725,651,869.12 -3,773,983,623.21 -4,391,029,727.11 -10,520,227,418.97 -20,905,102,725.43 -17,908,236,910.38 -17,794,218,195.35 -20,399,608,502.41 -21,258,160,390.19
Foreign Assets

Foreign Liabilities

Other Depository Corporations(net)

Foreign Assets

Foreign Liabilities

Net Domestic Assets (NDA)

Domestic Claims

Claims on Central Government(net)

Claims on Central Government

Central Bank

ODCs

Less Liabilities to Central Government

Central Bank

ODCs

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Central Bank

ODCs

Other Items(Net)
-2,494,250,471.13 -2,522,875,767.52 -2,752,119,965.08 -3,288,034,462.10 -3,489,169,273.48 -3,407,624,907.90 -4,062,967,487.72
-9,247,233,180.60 -20,527,245,199.85 -16,066,450,311.99 -16,618,302,828.46 -19,013,412,706.11 -20,151,231,734.56
Shares and Other Equity
-2,415,295,348.56 -2,460,253,452.61 -2,434,507,949.48 -2,961,726,923.10 -3,217,266,965.75 -3,126,405,163.73 -3,579,533,655.47
-9,203,936,084.43 -19,402,711,215.33 -14,321,122,638.86 -14,203,729,090.13 -16,555,368,520.87 -17,032,283,456.63
Liabilities to Other Financial Corporations

Restricted Deposits

Deposits and Securities Excluded from Base Money

Other Items(net)

Broad Money-M3

Securities Other than Shares Included in Broad
Money

Broad Money-M2

Other Deposits

of which Foreign Currency Accounts

Narrow Money-M1

Transferable Deposits

Of which Foreign Currency Accounts

Currency Outside Depository Corporations

Memorandum Items
Reserve Money

FCAs as a Percentage of Deposits in M3

End Period Exchange Rate

Source: Reserve Bank of Zimbabwe, 2023
Notes:
(i) Depository corporations survey - formerly Monetary Survey.
(ii) Broad money redefined using IMF's Monetary and Financial Statistics Manual of 2000. Major changes include exclusion of Government deposits held by banks from broad money.
(iii) Transferable deposits made up of demand and savings deposits.
(iv) NCDs are also referred to as securities included in broad money.
(v) All classes of time deposits, short and long term are classified as time deposits, which are also termed other deposits.
(vi) Credit to the private sector now excludes claims on other financial corporations, as well as claims on state and local government (local authorities)
(vii) Depository corporations made up of the Central Bank and other depository corporations
(viii) Other depository corporations (ODCs) - Commercial banks, merchant banks, building societies and POSB.
(ix) In December 2017, the statistics were adjusted in restrospect by reclassifying Securities issued under Aftrades from claims on government to claims on central bank
(x) In December 2017, the statistics were adjusted in restrospect by reclassifying amounts accessed by banks under the Aftrades from liabilities to Other Depository corporations and Other Financial Corporations to liabilities to Central Bank
(xi) In December 2018, statistics were revised from November 2017 due to reclassification of lines of credit (foreign liabilities) that were initially classified as deposits included in broad money
(xii) All monetary and financial statistics are valued in ZWL$ since the introduction of the interbank foreign exchange market in February 2019

Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Net Foreign Assets
-2,594,453,844.31 -2,593,755,912.16 -2,780,839,763.05 -3,343,568,149.26 -3,725,651,869.12 -3,773,983,623.21 -4,391,029,727.11 -10,520,227,418.97 -20,905,102,725.43 -17,908,236,910.38 -17,794,218,195.35 -20,399,608,502.41 -21,258,160,390.19
Claims on Non Residents

Official Reserves Assets

Other Foreign Assets

Less Liabilities to Non Residents

Short Term Liabilities

Other Foreign Liabilities*

of which blocked funds

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Of which: Securities Other than Shares

Loans

Loans and Advances

Amounts Due from Gvt including SDR Draw

Export Incentives

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on Other Depository Corporations

Of which: Loans

Other Liabilities to ODCs

Of which: Aftrades Balances

Securities

Other Items(Net)
-2,963,504,823.70 -3,058,656,720.83 -3,218,570,564.85 -3,811,099,538.68 -4,205,812,628.87 -4,130,691,813.85 -4,712,021,791.09 -10,984,933,611.94 -24,256,074,208.16 -19,559,977,562.21 -19,734,596,625.30 -22,488,218,425.97 -23,478,665,250.56
Shares and Other Equity
-2,968,624,968.16 -3,039,020,578.83 -3,148,249,301.82 -3,673,971,825.27 -4,085,919,716.08 -4,078,823,961.23 -4,620,636,211.04 -11,291,316,467.09 -25,202,259,045.14 -19,805,080,179.46 -19,579,648,458.36 -22,753,122,010.85 -23,550,146,670.91
Other Items(Net)

Liabilities to Other Resident Sectors

Deposits and Securities Excluded from Base Mon

Monetary Base

Bond Coins

Bond Notes

Liabilities to ODCs

Local Currency Reserve Deposits

Foreign Currency Reserve Deposits

Exess reserves

Private Deposits

Source: Reserve Bank of Zimbabwe,2023
NB: * Other Foreign Liabilities include blocked funds amounting to USD2.2 billion assumed by the Central Bank on behalf of Government.
TABLE 2: CENTRAL BANK SURVEY ($'000)

TABLE 3 : OTHER DEPOSITORY CORPORATIONS SURVEY ( $ '000)
Oct-22
Nov-22
Dec-22
Jan-23
Feb-23
Mar-23
Apr-23
May-23
Jun-23
Jul-23
Aug-23
Sep-23
Oct-23
Net Foreign Assets

Claims on Non Residents

Of Which: Foreign Currency

Deposits

Other

Less Liabilities to Non Residents

Of Which: Deposits

Loans

Other

Net Domestic Assets (NDA)

Domestic Claims

Net Claims on Central Government

Claims on Central Government

Securities

Loans

Other
-

-

-

-

-

-

-

-

-

-

-

-

-

Less Liabilities to Central Government

Of which: Deposits

Other

Claims on Other Sectors

Other Financial Corporations

State and Local Government

Public Non Financial Corporations

Private Sector

Claims on the Central Bank

Currency

Reserves

Securities

Other Claims

Liabilities to the Central Bank

Other Items(Net)

Shares and Other Equity

Liabilities to other ressident sectors

Other Items(Net)

Deposits and Securities Included in Broad Money

Deposits Included in Broad Money
1,858,602,031.80

2,042,355,987.09

2,314,588,211.40

2,646,071,378.63

2,888,136,764.51

3,165,058,675.05

3,572,801,781.15

7,206,537,527.79

14,244,682,762.54

12,975,158,042.76

13,382,795,891.99

15,691,777,986.61

16,730,519,506.06

Transferable Deposits
1,692,150,785.93

1,853,157,849.44

2,081,176,430.96

2,371,032,667.32

2,594,362,513.35

2,832,323,179.02

3,303,913,423.92

6,651,231,769.05

13,178,109,450.38

12,150,500,072.13

12,522,593,843.18

14,746,268,275.64

15,543,135,460.62

of which FCAs
1,131,156,966.82

1,211,583,916.42

1,325,367,130.51

1,623,313,580.02

1,750,982,009.54

1,865,387,117.78

2,144,912,895.57

5,273,965,984.48

11,634,530,484.57

10,099,327,960.39

10,172,409,984.27

12,309,119,479.36

12,388,978,422.26

Other Deposits

of which FCAs

Money Market Instruments
15,558,863.88

13,438,521.87

14,148,964.76

15,056,472.03

15,711,655.30

16,082,619.50

1,843,391.22

4,659,433.86

4,243,581.90

2,137,443.55

3,182,683.74

2,685,488.92

3,497,226.23

Source:Reserve Bank of Zimbabwe,2023

Foreign
TOTAL
End of
Notes
Bond
&
Balances
Balances with
Balances
Other Claims
Local
Other
Notes &
Coin
with
Other Depository
with
on
Government1
oca
Governemt
Other2
Government
Local
Public
Institutional
Other cliams
Contigent Assets
Other Assets
Non Financial
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities
Government
Enterprises
Units
Assets

Jan
183.4

3,176.6

13,217.3

1,073.2

8,142.0


Feb
267.1

3,136.4

13,817.0

1,504.5

8,642.5


Mar
263.6

3,607.6

16,167.1

2,214.4

12,681.9


Apr
298.5

3,642.9

17,926.4

1,523.3

13,697.1


May
330.0

3,581.8

21,376.4

1,749.6

15,757.4


Jun
606.6

9,584.7

29,457.9

3,974.7

35,786.5


Jul
690.8

18,357.0

54,139.7

5,578.7

42,159.7


Aug
975.1

28,776.0

54,868.5

4,623.1

41,100.2


Sep
1,084.2

30,217.6

56,679.6

4,426.6

39,530.8


Oct
1,064.2

32,235.0

66,948.5

4,457.3

40,092.7


Nov
1,063.6

34,673.9

73,237.2

4,211.3

41,173.6


Dec
1,177.8

39,886.8

76,076.5

5,771.7

38,623.2


Jan
1,483.3

42,733.9

77,994.4

13,109.2

40,071.8


Feb
1,735.4

41,180.7

76,140.3

17,748.1

39,141.4


Mar
1,457.1

40,953.3

83,032.1

6,945.5

42,516.8


Apr
1,699.7

40,964.4

85,330.2

6,844.8

49,733.4


May
1,906.1

30,579.1

94,330.9

7,907.2

63,644.8


Jun
1,702.8

30,255.6

75,795.2

25,605.9

72,780.6


Jul
2,139.9

30,509.1

104,983.5

17,817.9

82,032.9


Aug
2,551.1

33,323.4

93,806.9

11,919.2

72,753.9


Sep
2,853.7

38,500.1

100,996.0

8,626.8

68,707.9


Oct
2,611.1

50,074.7

108,009.2

9,575.8

89,822.4


Nov
2,721.5

53,424.3

107,781.7

15,560.6

74,072.3


Dec
2,838.3

50,031.0

118,451.3

13,654.0

91,352.6


Jan
2,891.2

53,378.3

116,654.8

13,232.3

69,668.2


Feb
2,577.7

62,064.5

122,479.8

17,480.5

76,802.2


Mar
2,111.5

76,544.2

142,962.5

19,239.6

87,884.5


Apr
2,624.9

74,716.9

160,466.5

28,352.1

123,190.3


May
3,155.9

142,118.9

236,166.0

35,928.9

207,812.8


Jun
2,801.2

138,347.1

266,691.8

45,952.0

241,920.1


Jul
2,427.6

159,024.6

315,832.5

39,388.2

230,432.5


Aug
2,640.6

263,637.4

411,439.9

69,203.5

311,107.0


Sep
3,030.7

289,230.8

504,071.1

75,446.7

417,007.1


Oct
3,022.6

300,240.3

525,870.3

104,483.2

389,979.7


Nov
3,251.4

286,365.2

575,885.7

111,716.1

342,790.1


Dec
3,361.7

295,435.1

652,284.4

119,932.8

351,906.8


Jan
4,923.3

379,841.7

704,168.6

151,980.1

389,342.8


Feb
1,880.1

436,062.8

743,888.5

81,067.5

518,081.0


Mar
2,031.6

425,326.5

817,631.1

112,374.3

531,935.4


Apr
1,844.7

462,081.4

972,122.7

161,740.7

620,095.0


May
1,107.2

1,048,116.4

2,049,066.1

309,234.1

1,554,969.0


Jun
1,984.5

2,249,201.6

4,424,350.0

471,360.3

3,050,984.1


Jul
1,489.0

1,584,403.3

4,137,377.2

380,493.0

3,132,849.9


Aug
2,292.1

1,505,916.2

4,651,358.8

448,025.8

3,179,274.3


Sep
2,465.6

2,015,621.6

5,263,338.5

560,033.8

3,210,332.7


Oct
2,425.4

2,312,575.1

5,910,277.9

751,077.6

2,663,186.5


Source:Reserve Bank of Zimbabwe,2023
Notes
1.Government securities includes treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations.
Public
Enterprises
TABLE 4.1: OTHER DEPOSITORY CORPORATIONS -ASSETS
$ millions
Debt Securities
Loans and Advances

Debt Securities
Foreign Liabilities
Capital
Contigent
Other
TOTAL
and
Liablities
Liablities
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source:Reserve Bank of Zimbabwe,2023
TABLE 4.2 : OTHER DEPOSITORY CORPORATIONS - LIABILITIES
Deposits
Amounts Owing to
$ millions

TOTAL
End of
Foreign
Bond
Notes
Balances
Balances with
Balances
Other Claims
Local
Public
Other
Contigent
Non Financial
Notes &
&
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Government
Government
Enterprises
Institutional Units3
Other claims
Assets
Other Assets
Assets
Coins
Coin
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
165.80

2,845.62

12,018.43

708.00

7,706.57

1,811.38

4,029.43

-

125.52

14.97

5.11

12.17

326.11

10,766.91

77.59

2,965.93

3,395.90

8,058.15

55,033.6

Feb
251.70

2,756.57

12,731.97

889.16

8,264.76

1,532.87

3,877.19

-

117.45

13.99

5.15

11.56

329.47

11,656.91

88.37

5,441.70

11,907.90

8,653.69

68,530.4

Mar
242.41

3,063.92

14,545.58

1,948.14

12,381.17

2,497.47

4,373.76

-

0.08

20.23

4.39

11.39

765.82

14,041.67

127.46

7,917.31

5,718.53

9,244.62

76,904.0

Apr
263.29

3,147.75

16,673.44

1,287.51

13,285.14

3,056.32

4,235.96

-

0.08

18.39

4.47

9.75

834.72

14,864.30

129.90

7,642.80

6,534.14

9,703.93

81,691.9

May
284.33

3,144.57

19,827.46

1,553.68

15,003.29

3,130.38

4,160.50

-

0.12

45.79

4.53

9.61

768.01

17,762.27

143.44

7,042.04

6,012.40

9,845.09

88,737.5

Jun
515.11

8,372.39

26,368.55

3,570.85

34,550.44

7,527.46

5,841.98

-

0.12

90.14

4.29

9.41

2,010.79

26,638.87

215.56

24,299.33

14,590.26

18,983.05

173,588.6

Jul
577.99

16,536.53

49,470.13

4,219.81

40,259.84

11,399.93

6,357.84

-

-

74.57

4.33

12.61

1,025.78

33,054.99

229.06

28,551.07

10,247.64

19,646.49

221,668.6

Aug
821.16

26,519.73

49,165.59

4,265.44

38,763.72

14,219.24

6,484.68

-

-

39.07

14.05

14.74

1,046.29

38,741.31

231.00

25,354.64

9,460.49

19,961.16

235,102.3

Sep
891.26

27,646.41

51,169.67

3,898.65

38,420.20

14,126.83

6,354.19

-

-

107.40

9.61

22.30

1,050.38

41,088.91

228.95

28,289.36

17,608.70

19,375.08

250,287.9

Oct
896.48

29,309.79

60,589.19

3,602.58

38,877.31

13,530.74

7,763.97

-

20.06

109.83

17.57

22.18

1,019.00

48,440.92

268.07

29,764.70

15,978.22

19,616.63

269,827.2

Nov
919.42

31,596.89

67,899.10

3,494.87

39,693.38

14,134.74

7,098.29

-

0.02

110.37

20.00

16.81

1,269.94

54,496.74

259.90

29,821.16

16,683.48

19,526.70

287,041.8

Dec
1,019.76

36,507.59

70,392.07

4,949.48

37,346.17

10,803.58

9,985.57

-

-

1.18

23.30

26.76

1,269.01

62,953.03

718.16

29,608.01

12,793.91

28,230.82

306,628.4

Jan
1,237.43

39,565.64

71,463.64

12,288.89

39,092.85

10,921.99

8,281.80

-

-

1.18

16.67

18.01

1,264.28

71,090.96

718.83

25,036.22

12,333.21

32,123.11

325,454.7

Feb
1,320.27

38,100.03

69,341.48

16,867.76

38,108.83

6,341.39

12,518.15

-

-

1.26

24.15

22.69

1,493.66

77,324.34

774.89

28,339.17

15,953.14

33,612.14

340,143.4

Mar
1,244.16

38,369.53

76,479.44

5,317.61

41,401.24

8,733.65

15,889.61

-

19.21

34.56

15.17

21.67

1,309.75

80,607.03

878.97

32,908.13

19,302.34

30,861.86

353,393.9

Apr
1,430.83

38,008.89

79,592.64

5,639.40

48,564.03

7,679.05

18,267.01

-

19.23

62.89

19.86

12.71

1,336.70

91,062.16

956.75

34,537.88

21,214.88

32,383.77

380,788.7

May
1,648.09

28,677.21

87,611.51

6,479.66

59,745.10

11,582.44

18,846.75

-

152.75

93.37

21.77

16.58

1,263.75

94,790.46

990.41

35,592.28

21,398.95

31,307.45

400,218.5

Jun
1,419.27

28,452.53

69,413.26

24,215.35

70,835.98

17,601.31

17,152.75

-

19.46

92.91

17.91

77.79

1,511.86

106,954.15

1,247.08

26,856.45

26,444.57

33,288.94

425,601.6

Jul
1,794.72

29,100.73

97,429.50

15,901.02

79,937.02

25,314.30

21,665.10

-

290.76

47.39

17.32

67.80

1,351.13

117,348.16

1,301.18

26,869.18

29,079.64

33,587.68

481,102.6

Aug
2,137.72

31,734.84

85,441.98

9,099.10

70,391.64

25,194.95

31,434.20

-

339.72

51.28

22.49

63.94

1,583.28

132,522.63

1,337.19

32,281.12

30,022.43

37,697.05

491,355.6

Sep
2,417.81

36,259.54

93,032.71

6,164.78

66,640.78

25,023.38

31,460.81

-

366.88

57.60

21.07

62.45

1,531.08

134,780.92

1,342.62

31,980.97

30,439.34

34,630.85

496,213.6

Oct
1,993.06

47,379.62

99,470.02

7,339.71

86,302.62

26,924.18

37,639.16

-

188.07

121.59

21.20

75.41

1,683.89

149,477.36

1,523.34

49,580.96

40,853.06

36,664.31

587,237.6

Nov
2,168.80

49,327.15

100,125.90

12,723.73

71,667.33

29,748.47

41,015.56

-

187.03

999.12

21.24

74.76

1,882.53

168,661.25

1,484.24

52,327.68

40,073.22

43,878.52

616,366.5

Dec
2,315.32

46,412.99

109,803.84

10,942.92

87,347.07

33,690.93

38,610.29

-

185.99

4,146.13

21.09

167.53

2,798.61

184,836.87

3,368.75

60,916.98

41,811.67

59,011.63

686,388.6

Jan
2,359.27

49,206.02

108,119.97

10,419.90

66,808.45

30,774.31

38,636.84

-

186.80

801.50

20.33

163.02

3,628.73

199,495.34

2,997.94

53,627.76

47,405.91

69,989.80

684,641.9

Feb
1,971.78

57,553.54

112,522.99

14,300.66

70,750.63

28,703.53

44,705.21

-

-

976.55

20.34

158.06

5,367.16

215,520.37

3,055.50

55,099.61

53,459.12

70,832.47

734,997.5

Mar
1,541.49

70,856.33

130,423.48

15,503.46

82,662.70

43,284.13

44,874.23

-

-

1,380.20

19.40

253.42

6,240.94

258,715.05

3,092.69

65,660.61

58,874.69

76,938.87

860,321.7

Apr
1,939.64

70,204.43

144,168.02

23,452.88

117,033.42

26,628.79

57,772.47

-

-

722.54

37.54

252.44

6,858.06

305,476.79

4,348.46

53,372.28

62,788.55

71,414.75

946,471.1

May
2,397.94

131,996.38

211,837.59

31,586.61

190,366.81

61,757.62

64,373.91

-

154.99

1,559.14

41.28

289.00

16,193.81

398,048.90

4,712.74

134,993.54

94,851.60

111,543.84

1,456,705.7

Jun
2,263.18

127,839.16

234,109.43

40,937.28

219,607.39

63,631.76

83,690.44

-

653.97

2,159.12

61.20

226.29

13,888.60

478,163.38

8,954.46

169,511.81

110,528.09

168,440.54

1,724,666.1

Jul
1,578.47

147,217.74

284,912.89

34,334.13

202,815.28

41,246.78

86,971.63

-

394.34

1,852.14

100.65

349.68

22,516.21

556,692.12

9,737.92

144,090.18

129,869.55

192,524.32

1,857,204.0

Aug
1,630.70

247,190.46

377,078.80

64,650.96

273,181.97

29,186.59

95,346.12

-

330.12

3,556.96

113.50

287.14

26,564.57

681,253.30

11,493.92

167,029.36

238,442.98

194,745.11

2,412,082.6

Sep
1,791.71

270,594.59

465,301.31

68,020.95

370,323.69

18,184.96

134,414.53

-

267.40

4,916.56

115.11

306.33

21,773.50

806,774.24

12,680.89

146,133.14

215,417.68

219,933.24

2,756,949.8

Oct
1,704.79

281,204.64

480,106.49

94,573.08

343,440.15

22,895.35

136,939.74

-

204.69

2,201.55

116.48

341.96

22,935.50

852,069.39

15,525.65

165,306.91

232,188.99

245,924.22

2,897,679.6

Nov
1,644.95

259,109.18

533,438.97

101,870.32

299,715.01

17,089.04

180,534.44

-

141.97

2,292.28

119.53

303.55

22,178.73

960,814.77

15,450.39

170,944.78

196,338.19

250,551.19

3,012,537.3

Dec
1,778.71

263,863.65

603,136.26

110,935.77

299,087.30

7,965.37

266,725.41

-

79.26

3,887.78

114.42

282.61

30,272.25

1,066,654.12

16,130.63

159,126.16

189,560.01

344,235.10

3,363,834.8

Jan
2,391.61

340,953.56

654,740.29

143,455.70

335,380.17

(1,443.59)

301,026.07

-

105.97

4,873.87

228.45

251.24

44,113.17

1,307,512.98

17,767.70

227,545.42

204,830.78

374,080.77

3,957,814.2

Feb
1,470.56

366,544.71

691,937.49

71,097.36

452,795.43

21,074.53

306,913.92

-

50.02

1,524.98

318.96

197.44

44,691.50

1,481,851.05

18,037.18

226,932.96

224,983.29

411,002.80

4,321,424.2

Mar
1,771.98

344,570.46

755,463.34

103,284.07

478,333.21

41,928.66

330,669.68

-

-

3,884.11

432.22

149.78

48,725.38

1,679,284.89

28,439.56

554,840.85

254,605.57

438,790.17

5,065,173.9

Apr
1,631.24

388,822.83

903,029.49

144,252.31

555,886.92

32,206.95

361,846.09

-

-

8,716.45

559.82

99.28

54,058.39

1,722,384.40

28,899.91

214,270.92

321,765.39

476,263.19

5,214,693.6

May
1,010.26

907,818.70

1,932,225.57

281,052.93

1,351,116.97

84,147.32

570,367.60

-

-

8,974.78

4,599.15

80.34

112,188.06

3,844,133.80

65,696.39

607,438.10

669,908.72

758,154.17

11,198,912.9

Jun
1,762.11

1,979,000.71

4,218,755.04

444,538.09

2,584,596.63

350,042.51

865,465.55

-

-

221.09

10,133.46

8,052.34

260,946.26

8,487,837.63

92,224.26

1,390,786.24

1,304,228.92

2,222,499.38

24,221,090.2

Jul
1,305.13

1,428,604.02

3,898,282.53

359,151.15

2,646,743.26

337,541.82

1,133,463.14

-

-

153.30

7,368.09

68.07

208,253.70

6,917,007.30

129,308.58

829,382.28

1,155,945.57

2,438,538.20

21,491,116.1

Aug
1,664.09

1,370,651.81

4,309,693.74

391,792.23

2,693,989.06

208,098.88

1,084,784.90

-

-

138.30

7,469.95

75.80

205,341.47

6,863,348.14

127,816.16

701,626.16

1,081,800.09

2,446,465.02

21,494,755.8

Sep
1,503.56

1,763,364.33

4,914,305.55

517,813.92

2,760,807.78

247,094.60

1,204,684.14

-

-

9.75

9,935.82

92.05

219,878.94

8,245,053.80

151,685.43

776,997.57

1,312,147.78

2,668,520.81

24,793,895.8

Oct
1,977.18

2,059,471.85

5,625,069.70

562,790.91

2,202,475.21

175,235.94

1,172,130.22

-

-

0.03

10,816.83

98.06

237,525.73

8,864,363.09

153,534.70

958,746.42

1,351,846.54

2,767,099.33

26,143,181.7

Source:Reserve Bank of Zimbabwe,2023
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations,
TABLE 5.1: COMMERCIAL BANKS -ASSETS
$ millions
Debt Securities
Loans and Advances

ZWL$ millions
End of
Demand
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
Debt Securities
Foreign Liabilities
RBZ
Other Depository Other Finacial
Capital
Contigent
Other
from the public
Corporations
Corporations
Corporations
and
Liablities
Liablities
TOTAL
Reserves

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source:Reserve Bank of Zimbabwe,2023
TABLE 5.2 : COMMERCIAL BANKS - LIABILITIES
Deposits
Amounts Owing to

Foreign
Other Assets
Non Financial
TOTAL
End of
Notes
Assets
Bond
&
Balances
Balances with
Balances
Other Claims
Notes &
Coin
with
Other Depository
with
on
Government1
Local Governemt
Public Enterprises
Other2
Mortgages
Government
Other
Coins
RBZ
Corporations
Foreign Banks
Non-residents
Securities
securities

Jan
16.3

322.3
1,106.8

361.8
421.8

-

283.0

20.1
-

-

478.2

-

1,498.8

717.5
1,552.8

6,779.5

Feb
14.5

368.2
977.2

612.5
370.5

-

357.1

20.1
-

1.5

503.6

-

2,097.7

735.9
1,538.8

7,597.4

Mar
20.1

529.4
1,423.7

261.8
282.6

-

341.6

19.2
-

0.6

526.4

-

2,406.4

1165.6
1,914.1

8,891.5

Apr
33.1

493.1
914.2

232.1
384.9

-

424.3

18.1
-

-

525.9

-

2,568.2

1528.5
2,134.4

9,256.8

May
39.7

434.7
1,248.4

192.3
725.0

-

382.4

17.0
-

-

517.6

-

2,793.4

2669.6
2,146.1

11,166.3

Jun
88.7

1167.9
2,857.8

395.9
1,222.0

-

385.4

13.8
-

-

653.4

-

4,663.9

2688.0
4,712.1

18,848.8

Jul
109.1

1780.7
3,878.9

1342.9
1,879.4

-

346.6

13.4
-

-

585.7

-

5,648.0

3879.5
4,927.7

24,391.8

Aug
142.9

2175.5
4,799.3

341.7
2,310.6

-

294.6

13.1
-

-

688.7

-

6,552.1

4480.3
6,104.6

27,903.4

Sep
179.8

2469.9
4,547.1

504.6
1,027.7

-

218.3

12.9
-

0.4

741.5

-

6,518.3

2774.9
6,503.8

25,499.1

Oct
149.1

2787.0
5,056.1

778.9
1,182.4

-

206.5

12.3
-

112.2

772.3

-

6,874.4

2795.4
6,537.1

27,263.4

Nov
104.3

2935.7
4,448.9

691.0
1,412.8

-

1,666.7

11.6
-

157.8

930.4

-

7,498.6

2571.1
6,712.9

29,141.9

Dec
116.2

3210.3
5,085.9

802.0
1,183.4

-

1,830.2

11.2
-

251.1

1,008.4

-

8,562.3

2559.4
7,352.9

31,973.2

Jan
188.7

2943.3
5,986.5

793.8
843.5

-

1,783.8

10.2
-

211.3

1,091.3

0.0

9,329.1

2980.3
7,685.1

33,846.9

Feb
345.7

2762.9
6,004.8

811.1
984.2

-

2,731.0

9.2
-

236.8

2,089.3

-

8,950.2

2949.2
7,790.6

35,665.0

Mar
168.3

2278.9
6,313.1

1594.4
1,028.2

-

1,341.7

8.4
-

415.1

1,242.4

-

10,867.7

3027.5
7,841.0

36,126.8

Apr
206.9

2702.1
5,302.6

1156.7
1,085.4

-

871.7

7.7
-

508.9

1,581.5

-

14,233.6

3431.1
7,237.9

38,326.2

May
210.3

1687.6
5,962.2

1250.9
3,847.1

-

116.9

7.0
-

517.7

1,568.8

-

17,154.9

2927.9
7,532.9

42,784.2

Jun
249.6

1649.7
6,202.6

1163.8
1,866.7

-

204.6

6.5
-

588.0

1,851.9

-

18,795.4

2580.9
7,701.1

42,860.7

Jul
283.7

1212.2
7,193.4

1892.7
1,875.4

-

1,143.4

6.0
-

447.3

1,963.2

-

18,280.3

3923.5
7,695.6

45,916.5

Aug
352.8

1408.8
7,869.3

2537.6
2,316.2

-

3,535.6

5.4
-

399.5

2,101.3

-

19,422.2

3837.6
7,666.6

51,453.0

Sep
349.8

1926.6
7,608.5

2430.2
1,941.4

-

4,314.6

5.1
-

205.2

2,231.7

-

20,461.1

4013.2
9,460.7

54,948.1

Oct
411.5

2396.2
8,221.0

2162.4
3,421.5

-

5,627.7

4.3
-

271.1

2,539.5

-

22,881.3

5432.3
9,501.3

62,870.1

Nov
339.8

3578.4
7,561.6

2568.8
2,299.5

-

5,882.7

3.7
-

566.4

2,788.5

-

27,326.1

4400.3
9,614.3

66,930.0

Dec
351.1

3217.3
8,557.8

2619.2
3,620.2

-

2,353.6

3.0
-

1,189.0

2,786.9

-

33,115.3

5610.8
11,334.1

74,758.3

Jan
324.6

3504.3
8,506.5

2680.3
2,631.0

-

1,110.8

2.4
-

1,487.3

2,967.6

-

35,913.5

6693.8
14,008.7

79,830.9

Feb
411.5

4021.5
9,763.6

3069.7
5,678.0

-

4,048.9

1.6
-

1,465.4

3,241.1

-

39,977.5

4511.5
13,964.4

90,154.6

Mar
354.3

4413.6
11,882.6

3691.3
4,932.3

-

5,235.0

0.9
-

1,590.0

3,888.3

-

42,741.3

9086.6
15,421.2

103,237.4

Apr
546.4

3054.1
15,585.8

4857.7
5,768.6

-

5,714.4

0.2
-

1,861.4

4,143.7

-

48,582.4

9654.2
16,999.2

116,768.1

May
639.5

8326.7
23,817.6

4251.9
16,001.6

-

6,150.9

0.0
-

1,486.3

8,474.8

-

74,864.0

14793.9
17,091.2

175,898.5

Jun
418.5

8464.3
32,497.6

3807.5
21,184.8

-

2,639.3

0.0
-

1,340.0

10,851.1

-

85,145.9

18155.8
35,128.1

219,633.0

Jul
700.4

9914.6
30,660.3

4983.4
24,902.9

-

4,077.6

0.0
-

1,411.5

13,722.1

-

98,066.0

9998.6
45,127.9

243,565.1

Aug
863.8

14422.1
33,703.2

4483.0
34,971.8

-

4,379.8

0.0
-

2,106.6

16,515.4

-

115,491.9

8745.3
45,694.0

281,377.1

Sep
1,086.8

14998.2
37,911.3

7470.1
45,094.8

-

8,440.8

0.0
-

1,302.8

17,996.8

-

129,242.7

11630.7
60,830.4

336,005.2

Oct
1,158.3

14768.7
44,296.5

10013.7
44,664.1

-

14,109.9

0.0
-

1,142.4

16,817.7

-

123,793.8

30036.4
47,678.2

348,479.7

Nov
1,449.3

22456.9
41,398.0

9771.8
41,317.6

-

17,572.6

0.0
-

2,085.3

16,785.8

-

136,029.9

30694.0
46,275.8

365,836.9

Dec
1,470.7

23012.7
48,533.8

8913.7
50,229.0

-

21,411.1

0.0
19,993.4

2,176.2

17,693.7

-

119,322.3

39279.1
69,102.5

421,138.1

Jan
2,402.7

32405.1
47,062.6

8410.8
50,364.6

-

17,976.2

0.0
23,668.5

2,406.3

18,311.0

-

132,757.4

41367.4
69,570.1

446,702.8

Feb
234.9

59685.4
50,103.0

9568.6
62,701.4

889.9

24,809.7

0.0
26,667.1

4,451.9

21,629.1

-

146,798.4

50093.6
70,987.9

528,620.9

Mar
214.6

72311.9
57,399.6

9196.8
51,300.9

-

28,841.5

0.0
24,689.0

5,503.9

19,118.6

-

170,376.6

54524.7
84,489.1

577,967.3

Apr
184.1

61341.6
63,129.5

16343.2
61,444.0

-

28,727.0

0.0
28,119.0

5,989.2

27,619.9

-

205,412.2

81442.9
86,571.2

666,323.9

May
78.1

125685.1
100,808.7

22707.0
195,646.6

-

81,344.3

0.0
69,908.9

6,246.8

53,180.7

-

440,462.4

103176.1
116,103.7

1,315,348.2

Jun
176.6

227001.8
172,666.5

25998.2
452,772.6

40,326.7

115,193.3

0.0
196,310.3

4,209.5

121,677.5

-

870,075.1

230604.4
544,587.8

3,001,600.3

Jul
162.7

132017.2
220,995.0

20797.2
459,668.2

32,010.8

105,308.6

0.0
154,472.7

13,777.8

153,638.5

-

697,177.8

209734.6
612,937.8

2,812,698.9

Aug
611.0

105296.6
309,821.7

55744.7
475,838.3

37,447.1

102,495.2

0.0
153,578.2

6,767.5

135,193.3

-

758,439.2

223114.4
564,622.1

2,928,969.2

Sep
949.3

193065.6
339,269.2

41680.1
437,996.0

58,554.5

110,351.3

0.0
161,346.6

4,522.1

153,113.7

-

880,148.8

290026.7
565,616.4

3,236,640.3

Oct
403.8

204713.4
254,684.1

187632.1
440,150.3

65,022.1

97,046.1

0.0
176,111.9

13,771.8

173,523.5

-

829,479.5

345029.3
586,015.6

3,373,583.5

Source:Reserve Bank of Zimbabwe,2023
Notes
1.Government securities include treasuary bills and bonds
2.Includes bankers acceptances, discounted bills and negotiable certificates of deposits.
3.Includes households and other financial corporations,
TABLE 6.1: BUILDING SOCIETIES -ASSETS
$ millions
Debt Securities
Loans and Advances

Debt Securities
Foreign Liabilities
Capital
Other
TOTAL
and
Liablities
End of
Savings
Time Deposits
Total Deposits
Other Depository
Government
Total
RBZ
Other Depository Other Finacial
Reserves
from the public
Corporations
Corporations
Corporations

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source:Reserve Bank of Zimbabwe,2023
Amounts Owing to
TABLE 6.2: BUILDING SOCIETIES -LIABILITIES
$ millions

AGRICULTURE
CONSTRUCTION
COMMUNICATION
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
END OF


INVESTMENTS
ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source:Reserve Bank of Zimbabwe,2023
/1 Including the only merchant bank still in operation.
TABLE 7.1 : SECTORAL ANALYSIS OF COMMERCIAL BANKS LOANS AND ADVANCES
$ ('000)

END OF
AGRICULTURE
CONSTRUCTION
COMMUNICATIONS
DISTRIBUTION
FINANCIAL &
FINANCIAL
MANUFACTURING
MINING
SERVICES
TRANSPORT
INDIVIDUALS
CONGLOMERATES
TOTAL
INVESTMENTS
ORGANISATIONS

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source: Reserve Bank of Zimbabwe,2023
TABLE 7.2: SECTORAL ANALYSIS OF COMMERCIAL BANKS DEPOSITS
$ ('000)

End of
Nominal
Lending Rates 1
Individuals
Corporate

Jan
6.00-65.00
32.65
24.77
Feb
6.00-85.00
36.67
21.36
Mar
6.00-85.00
35.83
22.61
Apr
6.00-85.00
35.22
22.59
May
6.00-85.00
34.84
21.76
Jun
6.00-85.00
36.25
22.46
Jul
6.00-85.00
36.56
21.66
Aug
6.00-85.00
41.06
39.65
Sep
6.00-85.00
40.61
39.50
Oct
6.00-85.00
41.86
45.81
Nov
6.00-8500
39.13
38.10
Dec
6.00-8500
39.34
37.94

Jan
15.00-85.00
39.32
39.62
Feb
15.00-85.00
40.55
64.02
Mar
15.00-85.00
40.74
43.88
Apr
15.00-85.00
38.15
45.56
May
15.00-85.00
38.01
47.25
Jun
15.00-85.00
38.45
48.25
Jul
80.00-240.00
82.75
165.45
Aug
80.00-230.00
88.46
155.96
Sep
100.00-230.00
98.07
158.46
Oct
100.00-290.00
99.37
115.26
Nov
100.00-290.00
99.03
110.97
Dec
100.00-290.00
99.02
110.83

Jan
100.00-240.00
90.05
116.03
Feb
65.00-230.00
60.12
80.88
Mar
65.00-230.00
74.35
81.46
Apr
70.00-230.00
74.48
86.96
May
70.00-230.00
77.86
83.61
Jun
70.00-155.00
76.33
92.64
Jul
64.00-155.00
77.82
94.80
Aug
64.00-155.00
77.63
93.18
Sep
64.00-160.00
76.49
92.69
Oct
64.00-160.00
71.72
92.43
Source:Reserve Bank of Zimbabwe, 2023
Notes
TABLE 8.1: LENDING RATES (percent per annum)
1. Nominal lending rates depict the range of rates quoted by banks.
Commercial Banks
Weighted Lending Rates

TABLE 8.2 : BANK DEPOSIT RATES (percent per annum)
END OF
SAVINGS
3 MONTHS

Jan
0.22-12.00
2.00-21.50
Feb
0.22-12.00
2.00-21.50
Mar
0.22-12.00
2.00-21.50
Apr
0.22-12.00
2.00-21.50
May
0.22-12.00
2.00-21.50
Jun
0.25-12.00
2.00-26.00
Jul
0.50-12.00
2.00-26.00
Aug
0.50-12.00
2.00-26.00
Sep
0.50-12.00
2.00-26.00
Oct
0.50-12.00
2.00-26.00
Nov
0.50-12.00
2.00-26.00
Dec
0.50-12.00
2.00-26.00

Jan
0.50-12.00
2.00-26.00
Feb
0.50-12.00
2.00-26.00
Mar
0.50-12.00
2.00-26.00
Apr
0.50-12.50
2.00-30.00
May
0.50-12.50
2.00-32.00
Jun
0.50-12.50
2.00-32.00
Jul
40.00
80.00-92.00
Aug
40.00
80.00-92.00
Sep
40.00
80.00-92.00
Oct
40.00
80.00-92.00
Nov
40.00
80.00-92.00
Dec
40.00
80.00-95.00

Jan
40.00
80.00-110.00
Feb
30.00
50.00-110.00
Mar
30.00
50.00-110.00
Apr
30.00
50.00-110.00
May
30.00
50.00-110.00
Jun
30.00
50.00-110.00
Jul
30.00
50.00-110.00
Aug
30.00
50.00-110.00
Sep
30.00
50.00-110.00
Oct
30.00
50.00-110.00
Source:Reserve Bank of Zimbabwe, 2023
* Deposit rates depict the range of rates qouted by banks.
COMMERCIAL BANKS

ALCOHOLIC
BEVERAGES
CLOTHING
&
HOUSING,
WATER,
FURNITURE
HEALTH
TRANSPORT
COMMUNIC
ATION
RECREATION &
EDUCATION
RESTAUR
ANTS &
MISC.
& TOBACCO
FOOTWEAR
ELECTRICTY,
GAS
AND
CULTURE
HOTELS
GOODS &
& OTHER
EQUIPMENT
SERVICES
FUELS
WEIGHTS


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source:Zimstat, 2023
*July 2020=100
FOOD & NON
ALCOHOLIC
BEVERAGES
ALL
ITEMS
TABLE 9.1 : MONTHLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
(February 2019 = 100)
TOTAL NON

FOOD
INFLATION
ALCO HO LIC
CLO T HING
HO US ING ,
W AT E R,
FURNIT URE
MIS C.
FO O D &
B E VE RAG E S
&
E LE CT RICT Y,
G AS
AND
RE CRE AT IO N &
RE S T AURANT S
&
G O O DS &
T O T AL NO N
NO N
ALCO HO LIC
ALL
& T O B ACCO
FO O T W E AR
& O T HE R
E Q UIP ME NT
CULT URE
HO T E LS
S E RVICE S
FO O D
B E VE RAG E S
IT E MS
FUE LS
WEIGHTS


Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source:Zimstat, 2023
*July 2020=100
TABLE 9.2 : YEARLY INFLATION - % CHANGE IN CONSUMER PRICE INDEX
(February 2019 = 100)
NON-FOOD INFLATION
HE ALT H
T RANS P O RT
CO MMUNICAT IO N
E DUCAT IO N

USA
SOUTH ARFICAN
BOTSWANA
JAPANESE
EURO
POUND
END OF
Dollar
RAND
PULA
YEN
STERLING

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source: Reserve Bank of Zimbabwe, 2023
TABLE 10 : SELECTED INTERNATIONAL EXCHANGE RATES
1. ZWL$ dollar per unit of foreign currency

END OF
Market Capitalisation
All Share*
ZWL$ millions

Jan

Feb

Mar

Apr

May

June*

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sept

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source:Zimbabwe Stock Exchange, 2023
*All Share index was introduced in January, 2018
**As at 26 June 2020
Indices
TABLE 11: ZIMBABWE STOCK MARKET STATISTICS
Market Turnover
ZWL$ million
Volume of Shares
Mining

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source:Reserve Bank of Zimbabwe, 2023
TABLE 12.1 : ZETSS AND RETAIL PAYMENTS
Values of Transactions (ZWL$ millions)

END OF
ZETSS
CHEQUE
POS
ATM
MOBILE
INTERNET

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

June

July

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source:Reserve Bank of Zimbabwe, 2023
TABLE 12.2 : ZETSS AND RETAIL PAYMENTS
Volumes of Transactions (000's)

END OF
EXPORTS
IMPORTS
TOTAL TRADE
TRADE BALANCE

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec


Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Source: ZIMSTAT, 2023
TABLE 13 : MERCHANDISE TRADE STATISTICS
(US$ millions)